Common use of Collateral Grant Clause in Contracts

Collateral Grant. In order to secure the Obligations of such Additional Borrower and until payment and performance in full of such Obligations and the expiration or termination of all Commitments hereunder and the termination of the Loan Documents, Additional Borrower, hereby pledges, charges and assigns by way of security to Administrative Agent, for the benefit of the Secured Parties, a first priority security interest in and Lien on its respective rights in the Collateral described in Section 5.1(a) of the Credit Agreement.